Lazy Stocks

Can you smell the recession? Maybe a few more rally days, maybe not, either way things are turning sour and there is no denying it. A few traders are calling Amaranth the canary in the coal mine. (Amaranth is the hedge fund which announced this week that they lost investors 6 billion dollars)

Today I'll pick a company that has nowhere to go but down. It's been awhile since my last pick, so I've done some research on a nice short. On monday short sell La-Z-Boy Inc. (LZB).

Not only have they missed earnings estimates for a second quarter, they've gotten downgraded by a few analysts lately, and the charts look bad.

• The stock has crossed below both of its DMA lines
• MACD is crossing downward
• RSI and Slow STO has room to move downward

Simple pick here folks, furniture is not going to suddenly start selling with americans on tighter and tighter budgets.

Good luck on Monday